The Real Estate Sources told the NBTV that hence forth, it remains to be a dream for any one wishing to buy a dwelling in Delhi, with the climb in the surrounding area fees declared by the Goverenment to-day by 250% in respect of sale and acquiring the assets, with a view to curb the gush of unaccounted currency. The sources further mentioned that this the second increase, in the past nine months, in the surrounding area charges which was last hiked by more than 100% in February.
According to the revised charges announced by the Delhi Government, the rates of classification according to the class of colonies are – Rs.2.15 lakh per square metre has been fixed as new circle rate for category A colonies like Defence Colony, Greater Kailash, Gulmohar Park, Panchsheel Enclave, Anandlok, Green Park, Golf Links and Hauz Khas. This clearly indicates that those wishing to buy land and property in these colonies cannot get the land and property unless they are willing to pay more than Rs.2.15 Lakh per Sq. Mtr. The extant rate in these colonies was Rs 86,000 per sq metre and the hike effected by the government is 250 percent.
The Chief Minister, Sheila Dikshit, defended the Government’s decision saying that the dealings with regard to land indicates only the true cost and that the Government too will be in a comfortable financial position with the spawning of Revenue to the tune of Rs.800 Crore per annum by way of collections from Stamp Duty and the Registration charges. The Revenue Department official further defended on behalf of the Chief Minister saying that the hike in the charges necessitated the Government at a time when the true charges of the land are not reflected on paper by which the Government is put in severe financial trounce in the revenue of stamp duty and Registration charges.
Source: NIMMA BENGALURU
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